{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares \u20ac Govt Bond Climate UCITS ETF is a UCITS-compliant ETF that aims to track the FTSE Advanced Climate Risk-Adjusted European Monetary Union Government Bond Index. The fund invests primarily in investment grade fixed income government bonds of Eurozone countries, using an optimised physical replication approach. The KIID and PRIIPs KID documents confirm that while the fund may use financial derivative instruments (FDIs), these are employed for direct investment purposes and optimising tracking, not as an inherent element of the investment strategy, thus derivatives exposure is minimal and not leveraged. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk related to derivatives. The fund does not employ leverage, inverse or amplified exposure. The risk indicator is moderate (level 3-4), consistent with a straightforward bond ETF. The monthly factsheet confirms physical holdings of government bonds with no indication of complex underlying assets such as contingent convertible bonds or structured products. Securities lending is used but revenue sharing does not increase costs materially. No capital protection or structured features are present. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, invests directly in liquid, transparent securities, and uses physical replication. Therefore, under MiFID II complexity assessment criteria, this ETF is classified as non-complex."
}